Union Commerce and Industry Minister Piyush Goyal on Tuesday said that India's exports have grown by 4 to 5 per cent in the first six months of the year, despite global economic challenges.
In an interview with ANI during his Qatar visit, Goyal said, "India is an emerging economic power in the world. Despite global turmoil, Indian exports have risen by 4-5 per cent in the first six months of this year. This indicates that India is emerging as a leader."
He also congratulated Prime Minister Narendra Modi on completing 25 years in public service, stating, "I congratulate PM Modi on entering his 25th year of public service. Under his leadership, the country is witnessing inclusive development."
On India-Qatar relations, the minister highlighted deepening economic ties and growing trade cooperation.
"Qatar-India relations have improved a lot. This year will prove to be a milestone in India-Qatar relations and increasing trade. We are thinking of working towards an FTA. We have signed the biggest LNG contract with Qatar," he said.
Earlier on August 29, Goyal had stated that despite tariffs, India's exports this year will be more than last year.
The Minister had said, "If any country wants to enter into a free trade agreement with us, we are always ready. But I believe that any form of discrimination affects the self-confidence and self-respect of India's 1.4 billion citizens. Keeping that in mind, we will neither bow down nor ever appear weak. Together, we will continue moving forward and capture new markets. I can confidently say that this year our exports will surpass last year's."
According to the data of Ministry of Commerce & Industry, in the last fiscal India's total exports have touched an all-time high of USD 824.9 billion.
This was a growth of 6.01 per cent over USD 778.1 billion of exports in 2023-24, which was a new milestone for India's exports. The FY 2024-25 exports had exceeded the government's initial anticipation of USD 800 billion to USD 824.9 billion.
The government has set a target of USD 1 trillion of exports in the current financial year 2025-26.
The data shows that the overall exports stood at USD 68.25 billion in July 2025, marking a growth from the same month of the previous year at USD 65.31 billion.
The cumulative exports (merchandise & services) during April-July 2025 are estimated at USD 277.63 billion, as compared to US$263.83 billion in April-July 2024, an estimated growth of 5.23 per cent.
The cumulative value of merchandise exports during April-July 2025 was USD 149.20 billion, as compared to USD 144.76 billion during April-July 2024, registering a positive growth of 3.07 per cent.
World Bank in its latest South Asia Development Update highlighted the resilience of the Indian economy and added that India is expected to remain the world's fastest-growing major economy, driven by strong consumption, improved farm output, and rising rural wages.
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